First yearly goal met

I was happy to be able to go to the bank last Friday, just nicely after payday, and deposit $ into my Savings Account there.

My first goal of saving $1000 for Summer activities is now met. I love the pretty green that shows me it is full. I also put in $267 into my next target: Back to School. It will take me until about May to save this money, based on how much I can tuck in that account each month.

Here's to goal 2!

unpleasant A HA moment

A frightening thought occurred to me this week. I'd like to tag it 'unplanned expenses' but that would be delusional. On some level I had to have realized this expense was coming. I'm not THAT naive anymore. errr, I hope.

DS1's car will need his plates (license) renewed this summer. His father paid for them last year when we bought the car and informed me it was my turn to cover the cost this year. oh boy!!

The cost? Just under $1200, if I recall correctly. Ouch. big ouch.

The cost of the annual fee is determined by the age of the vehicle, two door/four door, wheel base, paint colour. Ok I am kidding about the paint colour. DS's car is a 2006. Newer costs more. It's also a two door, which they classify as 'sports' car regardless of the power, or lack thereof, of the engine :P

Now for those unfamiliar with SK's vehicle insurance (plates) costs, there is no flexibility or negotiation. SGI: Saskatchewan Government Insurance controls the prices.  Regardless of what insurance agency you go through, it all goes to SGI and the cost is still the same. If I understand correctly, in the US (and parts of Canada?) the price can be different with different agencies.

Now DS1 plans to get a part time job when hockey is over in about 6 weeks. He's never had a part time job before so it is a new process and learning experience for both DS and his loving mother.

I need to draft a simple budget for DS to teach him some of the basics of finances that I never was taught. I want him to set aside money for his weekly gas. I want him to set aside money to help pay for some of his plates cost. I want him to set aside money to pay back a portion of what the car costs. I want him to set a bit aside for 'long term saving' as it is a skill all of us need. He'll need some spending money too or he'll see no point to the job.

I am not sure what kind of job he'll get or how many hours a week so I honestly can't say how much of his plates I want him to come up with. My 'pulled the number out of my head' number for him is $400. 1/3 of the cost. It needs to be a realistic amount so that he feels the pain of insurance plates as the rest of us do, but I am realistic enough to understand he can't afford it all.

So for me, tentatively, I need to find a way to save $800ish to cover the other 2/3 of the cost. Time for me to do some brainstorming :-)

Financial all about jolie

First job - working at a convenience store/gas station at 15

Most interesting job experience - working at a 'special care facility' and being flashed by a patient. I told him it was cold outside and it wasn't a good look for him that day and to put it away.

First Credit Card - a Zellers card

Most Indulgent Expense - taking the boys to Europe for DS1 to play hockey

My date with a credit collection agency - joined a health club when I was 19 at university. Changed my mind two days later. They made me pay the full amount for the year. In retrospect, I believe there is a grace window for cancellation. I was too stupid to know that then.

Most financially unprepared (fiscally and intelligently) moment - having kids

Most $ 'tossed' away - books. oh lordy the money I used to spend on book. sadness

Most money honest moment - in the commons at University. Guy in front of me dropped a $50. I picked it up and tracked him through the crowd to give it back.

Most 'unique' money fantasy - swimming and diving in a pool of money like Scrooge McDuck

Most money spent in one shot - my vehicle

Most change collected - $1000 I saved up to buy my wedding dress, shoes, veil, bouquet etc. My purse was sooo heavy going into the bank to cash it in.

Largest currency bill I've had - a $1000 bill. My dad gave that to me to use as a downpayment on my first loan. He'd saved for a long time for that. It was still in rare circulation then. He took money out of his savings and asked if he could get that large of a bill. They said yes. They knew I'd be back there the next day to deposit it to start my loan. Beauty of small town I guess. Not like I could have went to 7/11 and bought a slurpee with it LOL

One year

As of today, I have officially paid off one year extra on my loan. It was a 60 month loan and I knocked an extra 12 months off that bad boy.

What does this mean?

• It means I have busted my hiney off to pay extra money each month.
• It means I will pay less interest as I have reduced the principal.
• It means that instead of being done this loan after DS1 is done his first year of University in June of 2014, I will be done at the very least, by June of 2013.

I am excited to keep hacking away at this. The sooner I get this loan paid off, the sooner I can add more to my savings for their education, my retirement, and other savings.

I can't wait.

Menu

This may well be a record for me. Four weeks in a row making menus. Actually there is no question, it IS a record. LOL

It's helping me feel more organized. It's helping me use my food budget more efficiently. We are eating better and NOT going out for fast food or take out.  The kids enjoy knowing what's coming and I get less of 'what is for supper????

Since I am doing WW, I add a green salad to all my supper meals and I eat smaller portions of what I make for the boys.

Sunday - roast chicken, mashed potatoes, gravy, niblet corn
Monday - Beef Stew, biscuits and salad
Tuesday - chicken quesadillas
Wednesday - leftovers
Thursday - Pork Chops and Rice
Friday - Tacos